At what age should you start thinking about estate planning?
At what age should you start thinking about estate planning?
People interested in developing an asset protection plan with an estate planning attorney are sometimes unsure at what age the process should begin. A lot of people think they are not old enough to need an estate plan. Unfortunately some unexpected occurrences happen and it’s always good to be prepared.
There is no "right" age to begin considering the development of an estate plan. Everyone over the age of 18 should consider established an estate plan to monitor their assets, especially those who are married and are starting or have started a family. Whether you’re 22 years old with $100 to your name or 50 years old with many more assets, it’s important to consider estate planning as an option for you.
Typically, the older a person gets the more he or she begins to think about estate planning prior to death. However, death can come at any age, and it’s important that you are prepared, sooner rather than later.
Estate planning is a good idea for people who want to control where their assets end up after they pass away. No matter how old you are or what you own, it’s never too early to start thinking about where you would like to see your assets go, whether it’s to a spouse, sibling, friend, child or charity.
It's also very important to know the benefits of using an estate planning attorney that is experienced, handles multiple plans, and stays current with the laws. If you would like more information about estate planning, contact our Chicago attorneys wherever you are located. We’re here to help.
Sawyier & Williams
205 North Michigan Avenue, Suite 2600
Chicago, IL 60601
Phone: 888-213-9120
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